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As a new year has started, I took some new resolutions:
- HODLing: Instead of selling all my coins, I hold a small portion of my holdings after a significant price increase. By HODLing a small portion, I can hedge against market volatility while still benefiting from the potential of further growth. This approach is particularly beneficial for coins with strong fundamentals and a long-term trajectory.
- Focusing on high potential crypto: Gone are the days of blindly investing in every trending coin. I'm now laser-focused on projects with real-world applications, solid teams, and a proven track record of growth. These are the coins with the potential to deliver long-term value.
- No more leverage trading: Leverage trading, that double-edged sword, has left me burned more times than I care to admit. I'm done with amplified gains coming with the risk of catastrophic losses. Now, I'm focused on building a solid portfolio of coins that have the potential to grow over the long haul.
- No more FOMO: It can be tempting to chase pump-and-dump schemes. However, these price spikes often lead to sell-offs. Although news and hype can temporarily drive up prices, it's crucial to differentiate between genuine growth and artificial pumps orchestrated by pump-and-dump groups.
- Smart use of technical indicators: MA25, the moving average of 25 days, has become my main indicator. It serves as a beacon of support and resistance. When the price crosses above the MA25, I view it as a potential buy signal, signaling an uptrend. Conversely, a price crossing below the MA25 suggests a potential sell signal, indicating a downtrend.
Note: This is not financial advice.
